Two international small-cap exchange traded funds were recently launched by Van Eck Global.

The Market Vectors Russia Small-Cap ETF (RSXJ) provides exposure to Russia’s developing local economy through the country’s small-cap companies.  The ETF tracks the Market Vectors Russia Small-Cap Index which is comprised of 35 companies with an average market cap of $2.3 billion.  Top sector weightings include Utilities (18%), Materials (17%) and Energy (17%). The fund’s expense ratio is 0.67%.

The Market Vectors Germany Small-Cap ETF (GERJ) provides exposure to a group of 95 German companies with an average market cap of $1.2 billion.  The German economy has bounced back from the last recession better than most on the strength of domestic consumption and exports to fast growing Asian countries.  2010 GDP growth was 3.6% and the country’s unemployment rate is the lowest since 1992. The German ETF’s top sector weightings include Industrials (35%), IT (16%) and Consumer Discretionary (15%). The fund’s expense ratio is 0.55%.

For more ETF investing choices, see the list of Country ETFs.